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of money back. we'll talk about that coming up this hour. president obama last hour announcing his intent to nominate brian deese. deputy director of the office of management and budget. liz: peter barnes joins us from washington. he knows a little bit about brian. >> that's right, guys. brian has been one of the president's top economic advisors over at the white house, one of his deputy as an the national economic council working with gene sperling and others over there. he has been a long time advisor to president obama coming aboard when the president took office back in 2008. and helping him with a number of financial rescue programs as well as the rescue of the auto industry and all the billions of dollars in loans to detroit to try to help save the auto industry. and i have interviewed brian in the past and talked to him on the phone from time to time. very, very sharp guy. so the president is changing over the team over at the office of management and budget. he nominated as you recall, silvia matthews burrell, head of wal-mart foundation to be director of omb. now he is bringing
of 17.2 billion, largely because of tightening lending standards, the obama administration is pushing lenders to make it easier for people with weaker credit to obtain home loans. liz: peter barnes is joining us live from washington, d.c. with more on this development. peter? >> that's right, liz and david. sources confirming that the administration is planning a broad push to get mortgages to people with weaker credit records, credit scores, and, provide them with a taxpayer guaranty. sources say the administration is working with banks, the federal housing administration and other agencies to modify government rules to help homebuyers with lower credit scores who might be able to make mortgage payments now but can't qualify because banks are still being very cautious and tight with their lending standards. critics worry all of this will just tee up another financial crisis and future taxpayer bailouts. >> it's absolutely incredible to me we are going again in the same direction so soon after the financial crisis, simply because the administration and many others have refused to acce
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